RA 10641 Supports ASEAN Financial Integration

Recently Philippines passed into law Republic Act 10641 allowing full entry of foreign banks in the Philippines. The act is an amendment to an older RA 7721 which was passed way back in May 1994 which allowed foreign ownership of up to 60% of an existing bank or subsidiary, but limiting the entry to 1 entity.

https://www.linkedin.com/today/post/article/20140722102746-48635668...

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